Paying down CC balances.....how much does it help?

I have a question about how credit card balances work on your credit report.

If for instance, someone had nearly maxed out all of their CC's and then paid them all down under 30% utilization would their scores go up the same amount as if they paid them down slowly? Is it a progressive score increase or can the turn around really be overnight if for instance the CC's went from 90% utilization to 8%?

Also, If you have 5 CC's at 90% utilization but your overall utilization is 4% is the maxed out cards hurting your credit that much if your total util is very low?

Re: Paying down CC balances.....how much does it help?

For what it's worth, I paid down a Barclay's card from 90% util to <20% util, then called customer service to have them do an out-of-cycle update to my credit reports.

When I checked my scores two days layer, I found that my TransUnion FAKO had jumped 30 points.

I paid down two CapitalOne cards to 33% (down from 99%) and 9% (from 100%) util respectively soon after. I'm still waiting for CapitalOne to update my reports, but from what various score simulations have told me, I should see an even more dramatic jump.

I have a question about how credit card balances work on your credit report.

If for instance, someone had nearly maxed out all of their CC's and then paid them all down under 30% utilization would their scores go up the same amount as if they paid them down slowly? Is it a progressive score increase or can the turn around really be overnight if for instance the CC's went from 90% utilization to 8%?

Also, If you have 5 CC's at 90% utilization but your overall utilization is 4% is the maxed out cards hurting your credit that much if your total util is very low?

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.

‡ Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair
organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or
assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.